We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Lockheed Martin (LMT) Secures $51.1M Contract for JASSM-XR
Read MoreHide Full Article
Lockheed Martin Corp. (LMT - Free Report) has won a contract from the U.S. Air Force for Joint Air-to-Surface Standoff Missile Extreme Range (JASSM-XR). The contract is valued at $51.1 million and awarded by the Air Force Life Cycle Management Center, Eglin Air Force Base, Florida.
The work is scheduled to be completed by Aug 31, 2023 and executed at Orlando, FL. The contract will use fiscal 2017 and 2018 research and development funds to the extent of approximately $4.9 million.
Per the contract, Lockheed Martin will provide entire all-up round level systems engineering and programmatic activities coupled with the design, development, integration, testing and verification of component and subsystem design changes to the JASSM-XR baseline electronics, hardware, firmware and operational flight software.
A Brief Note on JASSM
JASSM is a stealthy, precision-guided cruise missile with a penetrating blast-fragmentation warhead. These missiles have been designed with infrared seekers and enhanced digital anti-jam Global Positioning System. The same is integrated on the B-1, B-2, B-52, F-16 and F-15E jets of the Air Force. Th missiles are also carried on the F/A-18A/B and F-18C/D aircraft worldwide. Lockheed has been manufacturing the JASSM cruise missiles at a Troy, AL-based plant since the late 1990s.
Our View
Lockheed Martin is the largest U.S. defense contractor with a platform-centric focus that guarantees a steady inflow of follow-on orders from a leveraged presence in the Army, Air Force, Navy and IT programs.
Meanwhile, toward the end of June 2018, the U.S. Senate approved the fiscal 2019 defense budget, provisioning major war fighting investments worth $21.7 billion for military aircraft. Lockheed Martin, one of the prime defense contractors in the United States, should be a significant beneficiary of this proposed budget.
Additionally, per a report by Markets and Markets research firm, the rocket and missile market is projected to witness a CAGR of 4.7% during the 2017-2022 period to $70 billion. This growth can be attributed to the aggravating geopolitical conflicts, war and terrorism, which are spurring demand for rockets and missiles globally and Lockheed with its wide range of missile offering is expected to benefit from the same.
Price Movement
In the past three months, Lockheed Martin’s stock has gained 2.5% against the Zacks Aerospace/Defense industry’s decline of 1.7%.
American Outdoor Brands pulled off with an average positive surprise of 65.7% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has been revised 24.1% upward to 67 cents per share over the past 60 days.
Huntington Ingalls delivered an average earnings surprise of 9.5% in the trailing four quarters. The consensus estimate for 2018 bottom line per share has moved 6.3% north to $17.24 over the past 60 days.
Textron came up with an average beat of 20.4% in the preceding four quarters. The consensus mark for current-year earnings per share has been raised 5.1% to $3.33 over the past 60 days.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits. Click here to see the 5 stocks >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Lockheed Martin (LMT) Secures $51.1M Contract for JASSM-XR
Lockheed Martin Corp. (LMT - Free Report) has won a contract from the U.S. Air Force for Joint Air-to-Surface Standoff Missile Extreme Range (JASSM-XR). The contract is valued at $51.1 million and awarded by the Air Force Life Cycle Management Center, Eglin Air Force Base, Florida.
The work is scheduled to be completed by Aug 31, 2023 and executed at Orlando, FL. The contract will use fiscal 2017 and 2018 research and development funds to the extent of approximately $4.9 million.
Per the contract, Lockheed Martin will provide entire all-up round level systems engineering and programmatic activities coupled with the design, development, integration, testing and verification of component and subsystem design changes to the JASSM-XR baseline electronics, hardware, firmware and operational flight software.
A Brief Note on JASSM
JASSM is a stealthy, precision-guided cruise missile with a penetrating blast-fragmentation warhead. These missiles have been designed with infrared seekers and enhanced digital anti-jam Global Positioning System. The same is integrated on the B-1, B-2, B-52, F-16 and F-15E jets of the Air Force. Th missiles are also carried on the F/A-18A/B and F-18C/D aircraft worldwide. Lockheed has been manufacturing the JASSM cruise missiles at a Troy, AL-based plant since the late 1990s.
Our View
Lockheed Martin is the largest U.S. defense contractor with a platform-centric focus that guarantees a steady inflow of follow-on orders from a leveraged presence in the Army, Air Force, Navy and IT programs.
Meanwhile, toward the end of June 2018, the U.S. Senate approved the fiscal 2019 defense budget, provisioning major war fighting investments worth $21.7 billion for military aircraft. Lockheed Martin, one of the prime defense contractors in the United States, should be a significant beneficiary of this proposed budget.
Additionally, per a report by Markets and Markets research firm, the rocket and missile market is projected to witness a CAGR of 4.7% during the 2017-2022 period to $70 billion. This growth can be attributed to the aggravating geopolitical conflicts, war and terrorism, which are spurring demand for rockets and missiles globally and Lockheed with its wide range of missile offering is expected to benefit from the same.
Price Movement
In the past three months, Lockheed Martin’s stock has gained 2.5% against the Zacks Aerospace/Defense industry’s decline of 1.7%.
Zacks Rank & Stocks to Consider
Lockheed Martin currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the same sector are American Outdoor Brands Corporation , Huntington Ingalls Industries, Inc. (HII - Free Report) and Textron, Inc. (TXT - Free Report) , each holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
American Outdoor Brands pulled off with an average positive surprise of 65.7% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has been revised 24.1% upward to 67 cents per share over the past 60 days.
Huntington Ingalls delivered an average earnings surprise of 9.5% in the trailing four quarters. The consensus estimate for 2018 bottom line per share has moved 6.3% north to $17.24 over the past 60 days.
Textron came up with an average beat of 20.4% in the preceding four quarters. The consensus mark for current-year earnings per share has been raised 5.1% to $3.33 over the past 60 days.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>